£200m Belfast retail complex planned

Belfast is to get a £200 million sterling shopping centre development following a British government decision to back a plan by Dutch company, Multi-Development Corporation, to redevelop the Victoria Square area of the city centre.

The project, which includes a 500,000 square feet retail centre, will create 3,000 construction jobs over four years and a further 3,000 jobs in the retail sector on completion.

The decision by Mr Nigel Dodds, Minister for Social Development, to back the Dutch plan follows a competition run by the Department of Social Development between four developers.

Rival proposals by Dunloe Ewart, MEPC/John Laing Property and Land Securities/ Deramore Development are now in doubt.

Consultants appointed by the Department of Social Development have warned that Belfast could not support two developments, which would simply confuse potential retailers.

Government support is considered vitally important for the successful completion of all the competing consortiums' developments as it will provide vesting powers to secure land through compulsory purchase orders. However, Dunloe Ewart yesterday pledged to press ahead with its own £150 million development of the Cathedral Quarter in Belfast, which it claims will be completed within two years.

Dunloe Ewart chairman Mr Noel Smyth said the company had already assembled 80 per cent of its land and would aim to start building work in January 2001.

He said Dunloe Ewart would either try to buy the existing 20 per cent of land or reduce the size of its project. These plans pose no threat to the Multi-Development Corporation as retail demand would support both developments, said Mr Smyth.

Mr Dodds said he would explore what, if anything, the department might be able to do to assist development on at least one of the other sites without prejudicing the Victoria Square project. However, a spokesman for the Department of Social Development said this would be contingent on it not affecting Multi-Development Corporation's project.

The Victoria Square project is the first major shopping centre development in Belfast since Castlecourt was built more than a decade ago.

The development will feature shops, restaurants, leisure facilities, apartments and a hotel.

The project is Multi-Development Corporation's first investment in the UK and Northern Ireland and follows on from its recent expansion into France, Portugal, Spain and Italy.

Mr Nico Veldhuis, managing director of Multi-Development Corporation, said the project was part of a major move into Belfast which could see the group develop a World Trade Centre on the waterfront.